Earick Dismisses Spurs Buyout Proposal Following Expression of Interest
The former chairman directed Spurs' transition to the club's new home in recent years.
US technology mogul Brooklyn Earick has rejected submitting an official acquisition offer for the North London club.
The club had before “unequivocally rejected” an informal expression of interest from a syndicate spearheaded by Earick last month and maintained the organization was unavailable for purchase.
Yet the nation's corporate governance laws required that, having had an initial approach turned down, the group needed to make an offer by late October or state they would not proceed.
Confirmation of the decision was made in a announcement released by Tottenham to the London Stock Exchange, indicating the club is “no longer in an offer period.”
Earick posted an snapshot of the statement on social media, stating: “It's been a privilege interacting with Tottenham Hotspur and the Lewis family's delegates over the past few months.
“I have great respect for the team, its management, and its followers, and desire only the best.”
The club's board expressed gratitude to the group for its “positive engagement” in discussions and for “respecting the clear position” of the shareholders that the organization is off the market.
Brooklyn Earick is a ex-disc jockey who also was employed in space technology for the space agency before founding the innovation company, which specializes in innovation, communications, sports and recreation.
The informal offer was the third approach turned down by the club's board since the abrupt resignation of top executive Levy in the fall.
In early fall, the team rejected offers from previous club stakeholder the financier's PCP International and a syndicate spearheaded by Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
Daniel Levy and his family own about 30% of Enic Sports & Developments Holdings Ltd – which has an almost 87% shareholding in the club.
Levy was the the league's top-tenured leader and is reported to have earned more than £50m during his nearly 25 years in the position.
Yet he was also the subject of ongoing dissent by Tottenham supporters, especially last season as domestic league results turned out unsatisfactory.
The north London club won their major honor in seventeen years when they defeated United in the May Europa League final.
Associated Subjects
- Premier League
- The North London club
- Soccer